Cancore, a trading platform built on the Canton Network, has raised $7.2 million in seed funding to connect institutional tokenized assets on Canton with liquidity on public blockchains.The round was disclosed on Tuesday, October 27; however, it was reportedly closed in mid-September.A $60 million valuation and no formal leadCancore’s co-founder and CEO, Wasif Rashid, told reporters that the seed money came in at a $60 million fully diluted token valuation. Rashid said that it was raised through simple agreements for future tokens tied to Cancore’s planned CNRX token.Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk make up the six investors that took part in the funding round.Cancore did not mention who led the round in its announcement, which was posted on X; however, its CEO reportedly said that Paper Ventures and dao5 took the largest allocations.He said the company started talking to investors in June, opened the raise in July, and wrapped it up by mid-September.Cancore was founded in late 2025, and it is based mostly in the UAE and Pakistan. The firm plans to add staff across engineering, security, AI infrastructure and institutional sales.Trading across six chains without custodyCancore has run on Canton mainnet since April and calls itself a “Liquidity OS for tokenized finance.”Its pitch is to pair assets on Canton, including tokenized real-world assets, with stablecoins and DeFi liquidity on other networks.Cancore’s users can currently move between Canton, Ethereum, Arbitrum, BNB Chain, Robinhood Chain and Tron.Rashid said that Base and Solana are next, with the latter waiting for the completion of an external audit.The company has two major products, which are Cancore Trade for cross-network trading and Cancore Wallet, where users hold their own keys.The platform has handled more than $86 million across over 160,000 trades since launch. It has also booked more than $700,000.Cancore charges 0.5% on each side of a trade, adds 10% on top of Canton network fees, and keeps 20% of liquidity-pool profits, with the other 80% going to liquidity providers.A crowded push to wire Canton to public chainsCancore is not alone in the market that it is playing in, as more firms are seeing the value. One of them is Interstice Digital, which launched a non-custodial swap engine with prime broker FalconX in August. It connected Canton to Ethereum, Solana and Robinhood Chain.Another is ChainSafe, which took a different route by shipping middleware that enables Ethereum teams to mirror ERC-20 assets onto Canton without rewriting their code.The firm’s interest is not far from what institutions are doing in Canton itself. It received a major boost after the Depository Trust & Clearing Corporation (DTCC) announced in December 2025 that it had partnered with Digital Asset to tokenize U.S. Treasury securities on the network.In January 2026, J.P. Morgan announced that it will be issuing its JPM Coin deposit token natively on Canton, and so far, it has already started doing that.According to Rashid, LayerZero, Wormhole, Squid and Canton-based decentralized exchanges are their rivals, but what helps to set them apart is that they are bundling trading, settlement and AI automation in one place.CNRX token and a security track recordCancore has not given a timeline for when CNRX will be launched. The CEO says that the staking token will bring lower trading fees and higher limits for trading and AI tools.He also said that liquidity providers will get token benefits as well. Cancore operates as a Canton validator and has locked 5 million CC tokens under the network’s CIP-0116 standard.Rashid previously co-founded BlockApex, a blockchain security firm he said completed more than 125 audits and helped secure over $3.2 billion in assets.If you're reading this, you’re already ahead. Stay there with our newsletter.